Get QuoteDark Inspirational Quotes App

" My thinking has always been that the worst problem we have with regard to lack of inclusion is the terribly low labor force participation rates and terribly high unemployment rates of young men, especially young men in ethnic minority groups and, in particular, young black men. "

Related Quotes:

" A modern economy is marked by the feasibility of endogenous change: Modernization brings myriad arrangements from expanded property rights to company law and financial institutions. "

Edmund Phelps

Rights

Financial

Company

" The celebration of homeownership seems to be part of a countermovement against popular owning of shares in corporations. "

" I grew up, until age 6, in Chicago. My parents rented their apartment and, at the end of the Depression, my parents wanted to replicate that situation. So, again, we lived in a somewhat suburban setting outside of New York City, and again, they rented. "

" In societies where one sees a higher prevalence of 'modern values' - individualism, vitalism and self-expression - there's also higher reported job satisfaction. "

" I'm hoping that the administration and other thought leaders will succeed eventually in bringing the country back to the older idea that the American dream is having a career, getting a job, and getting involved in it, and doing well. That was the core of the good life. "

" If every effect of any new products or methods were required to be known before they could be produced and marketed, they would not be true innovations - and thus not represent new knowledge of what people would like, if offered. "

" Most of the big banks were shot through with short-termism, deceptive practices and self-dealing. We must institute basic changes in corporate governance and in management practice to restore responsibility and honesty for the sake of the economy and for the self-respect of the country. "

" There's such a preoccupation with liquidity and such an unwillingness to invest beyond the horizon of the next quarter and making sure that the CEOs hit their quarterly earnings. "

" Companies like Google and Facebook may offer jobs allowing or requiring imagination and creativity, but the whole of Silicon Valley accounts for only 3 percent of national income and a smaller percentage of national employment. "

" I would like to see people dreaming of striking out on their own into some other country or their own, wherever they feel the action is, in the hope of an exciting and rewarding career. "

" To pump up consumer or government demand would force interest rates up and asset prices down, possibly by enough to destroy more jobs than are created. "

Edmund Phelps

Government

Enough

" Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences. "

" I've lived to see key parts of my research absorbed in textbooks and in central banks around the world. And some finance ministries, too. "

" With less competition to fear, companies are emboldened to raise their mark-ups and profits. That lifts share prices and thus the wealth of already wealthy shareholders. "

" Things can get only so bad. People want to eat, so at some point they resist further cuts to their consumption - it's not a bottomless pit. "

" The 1920s and 1930s were a period of sensational productivity growth: new products were springing up all over the place, and most of those new products and new methods were developed by people who started their own companies. "

" Germany, Italy and France appear to possess less dynamism than do the U.S. and the others. "

" Developing new products is labour- intensive. So is producing the capital goods needed to make them. These jobs disappear when innovation stalls. "

" A system where self-employment and self-finance was typical gave way to a system of companies having various business freedoms and enabling institutions. This was the 'great transformation' on which historians and sociologists as well as business commentators were to write volumes. "

" I started to think about what drives innovation and what its social significance might be. The next step was to think innovators are taking a leap into the unknown. That led me to the thought that it is also a source of fun and employee engagement. "

" The best part of the high school in Hastings must have been the Music Department. Its orchestra and concert band did well in county competitions, and the dance band formed by its students was the best in the region. I played lead trumpet in all of them. "

" The fallacy of the neoclassicals is their tenet that total employment, though hit by shocks, can be said always to be heading back to some normal level. "

" For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory and employment theory. "

" A nation's economy is more than its markets, tastes, technologies and property rights. "

Edmund Phelps

Rights

Economy

" Disciples of Keynes, who focus on aggregate demand, view any increase in household wealth as raising employment because they say it adds to consumer demand. "

" To prosper and advance, the American business sector is going to need a financial system oriented toward business, not 'home ownership.' "

" The Keynesian belief that 'demand' is always at the root of underemployment and slow growth is a fallacy. "

" The difficulties of many European countries derive from their corporatism: state projects serving cronies and vast social protection programmes, both run by elites. These surged in the 1970s and 1980s. "

" Overpaying the banks for their toxic assets could contribute capital, but that may not be politically feasible or attractive. "

" Italy and France could lop off their excessive wealth through a one-time tax on private wealth. "